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InSilico Medicine Completes $305 Million Zero-Coupon Convertible Bond Issue

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InSilico Medicine (HKG:3696) completed the issuance of $305 million zero-coupon convertible bonds due in 2027, with net proceeds of about $301.6 million, according to a Thursday Hong Kong bourse filing.

The company plans to allocate 40% of net proceeds to clinical trials and drug R&D, and another 30% to expand its R&D team by more than 200 experts across four regions.

The remaining proceeds will fund scientific foundation models, including for biological target discovery and longevity-related diseases, as well as working capital and other corporate purposes.

The bonds were issued on Sept. 3.

Trading on the Vienna MTF is expected to begin around Sept. 4, and the company has obtained approval to list shares issuable upon conversion on the Hong Kong Stock Exchange.

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